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Best Performance Appraisal Software: 10 Tools to Look Into in 2021

Any organization – big or small – can benefit from performance appraisal software. Usually, this type of software comes as a module in a bigger, more comprehensive HR software suite.

Performance appraisal software helps to gather continuous feedback through the year from all stakeholders. It then converts this feedback to a suitable year-end appraisal. This appraisal further helps to monitor employee progress and aid in career planning. But there’s more:

Best Performance Appraisal Software

Intro to performance appraisal software

Instead of attempting just one huge year-end review, quality performance appraisal software helps to compile info about employee performance on a continuous basis. Employees can participate in setting goals, and assess and pace their progress. Management can track employee progress over time and align employee goals with the business objectives for maximum corporate gain. High-performing and under-performing employees can be identified and rewarded suitably.

Any performance appraisal tool should enable managers to monitor employee performance in a positive manner. For this purpose, it should enable collection of feedback from customers, peers and managers to do a strengths and weakness analysis. What can also help is tracking and analyzing relevant metrics in an easy-to-use dashboard.

Apart from that, here are some other desirable features that any good performance appraisal software should offer:

 
  • Collecting all feedback from peers
  • Setting objectives, goals and targets
  • Linking individual goals with organizational goals
  • Measuring performance against set goals
  • Skills assessment and rating scales
  • Identifying achievements and performance gaps
  • Appraisal history tracking
  • Planning for individual development and competency management
  • Compensation management
  • Peer and self appraisals
  • Self service portal

Best performance appraisal software in 2021

BambooHR

Best performance appraisal software: BambooHR

💸 Pricing:

Pricing depends on number of employees. Free quote is available. Rates estimated to start at $4.95/mo/employee.

🧰 Key features:

  • Brief questions to reflect employee performance accurately
  • Visual reports to compare employee performance across departments and individually
  • Identify under-performing and high-performing employees easily
  • Employees and managers can set and track multiple goals
  • Automated reminders and notifications of goal progression and comments
  • Goal status report to help monitor progress
  • Compare organizational performance appraisal using company performance reporting
  • Peer reviews to provide insights from coworkers and stakeholders
  • Generate detailed HR analytics reports
  • Dashboard notifications
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Best performance appraisal software: SAP SuccessFactors

💸 Pricing:

Starts from $4.17/mo/user.

🧰 Key features:

  • Activities and achievements tracking
  • Continuous coaching and feedback
  • Track manager check-ins with employees
  • Library of 500+ ready to use goals
  • Employee and team goals aligned with company objectives
  • 360 degree reviews and feedback
  • Writing assistant and coaching advisor
  • Legal scanning
  • Ensures fact-based decisions on performance and compensation
  • Accurate bias-free employee evaluations
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Best performance appraisal software: Namely

💸 Pricing:

Prices available only on request. But one estimate puts it at $12/mo/employee for the basic features.

🧰 Key features:

  • Company and employee level goal management
  • Intuitive forms to simplify assessment cycles
  • Automated review cycles to collect answers easily from peers, employers and employees
  • Recognize great work in the feed
  • Configurable templates to fit your talent management strategy
  • Unlimited reviews
  • Manage employee performance to fit company culture
  • Ongoing check-ins
  • Easy onboarding with eSignature
  • Part of a full service HR software
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Best performance appraisal software: Sage

💸 Pricing:

Subscription model staring at $5.50/mo/user.

🧰 Key features:

  • Software to measure, monitor and reward employees
  • Keeps employers and employees on the same page
  • Both formal performance management and regular feedback
  • Regular check-ins
  • Setting attainable objectives
  • Self-development opportunities
  • 360 degree evaluations
  • Create performance improvement plans
  • Tailored employee evaluations
  • Reports and dashboards for actionable insight
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Best performance appraisal software: Zoho People

💸 Pricing:

Performance Appraisal is included only in the Premium package and higher. The Premium package costs $2.50/mo/user.

🧰 Key features:

  • 360 degree feedback
  • Multi rater feedback for better insight
  • Employees and managers can set goals and track progress
  • Tag skills required for jobs and allow employees to highlight skills
  • Key resulting areas for better assessment
  • Competency ratings for employees
  • Continuous performance reviews
  • Streamline and customize appraisal cycles
  • Multi-level reviewers
  • Detailed performance reports and analytics
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Playlocity

💸 Pricing:

Not mentioned on website, but can be pegged at $2-$4/mo/employee.

🧰 Key features:

  • Setting and managing goals and appraisals
  • Employee self appraisal
  • Succession planning
  • Ongoing goal-driven conversations
  • 360 degree feedback
  • Connect through video for personalized experience
  • Monitor key metrics and identify trends
  • Data backed decisions with visual dashboards
  • Flexible integrations with other software
  • Transparent two-way communication
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Workday

💸 Pricing:

Not mentioned on website.

🧰 Key features:

  • Smart solutions to align employee goals with that of the organization
  • Talent review for team members
  • Job interest assessments, opportunity graphs and talent marketplace
  • Create hiring plans
  • Manage succession pools, candidate data, and compare talent
  • Goal setting and tracking
  • Scheduling check-ins
  • Skills cloud to assess employee strengths and identify gaps
  • Career development planning and internal mobility
  • Performance enablement
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Darwinbox

💸 Pricing:

Not mentioned on website.

🧰 Key features:

  • Multiple assessment frameworks for different positions in the organization
  • 360 degree multi stakeholder feedback
  • Competency mapping
  • Performance journals
  • Merit and succession planning
  • Goal cascading for alignment with organization’s goals
  • Rating normalization
  • Talent profile of employees
  • Continuous feedback
  • Preferred solution in Asia-Pacific region
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WebHR

💸 Pricing:

Free for 5 employees and as low as $1/mo/employee.

🧰 Key features:

  • 360 degree employee appraisals
  • Transparent goal setting and evaluation
  • Anonymous employee data converted into analytical reporting
  • Employee enhancement and wellness
  • Appraisal history
  • Auto reminders
  • Comprehensive reports and graphs
  • Employee self service
  • Third-party integrations
  • User-friendly dashboard
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UltiPro

💸 Pricing:

Not mentioned on website.

🧰 Key features:

  • Track and analyze metrics from a central dashboard
  • Keep track of employee progress
  • Recognize and rate employee achievements
  • Identify areas for improvement
  • Proactively develop team members
  • Library of suggested activities for managers
  • Assign goals to employees
  • Align employee goals to organizational objectives
  • Automate employee reviews
  • Assess individual and team performance
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